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Title:
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PUBLIC HEARING - FORMATION OF THE CITY OF SANTA ROSA ENHANCED INFRASTRUCTURE FINANCING DISTRICT (DOWNTOWN BUSINESS CORRIDOR) AND ADOPTION OF THE INFRASTRUCTURE FINANCING PLAN (THE PUBLIC NOTICE FOR THIS ITEM WAS PRESENTED TO START AT 1:00 PM OR AS SOON AS POSSIBLE THEREAFTER. THIS PUBLIC HEARING ITEM WILL BEGIN SHORTLY AFTER 2:30 PM )
BACKGROUND: An Enhanced Infrastructure Financing District (EIFD) is a financing tool that supports public infrastructure and development that in turn supports and incentivizes private investment into specific areas where mixed-use development is desired. The goal of the EIFD is to leverage future tax increment to fund projects that accelerate economic growth, create jobs, and serve as catalyst for private sector investment and development, further improving the region’s competitiveness for state and federal grants within the EIFD while increasing economic mobility. In April of 2023, the Santa Rosa City Council (Council) adopted a Resolution of Intention ...
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